Affordable & Income-Based Housing in Princeton

Affordability

Princeton's median household income is $192,079 and median gross rent is $2,636 per month, reflecting a high-cost housing market where income-restricted units can offer significant savings for eligible renters. About 45% of Princeton residents rent their homes, according to Census ACS 5-Year data (2024).

Lease Lantern tracks 8 affordable properties with 526 income-restricted units across Princeton, spanning HUD-assisted and LIHTC programs.

Safety

According to FBI Crime Data Explorer, the Princeton Police Department reported a violent crime rate of 49 per 100,000 residents in 2024. Note that crime rates are not directly comparable across cities due to differences in reporting practices and local definitions.

None of the 8 HUD-assisted properties in Princeton are located in a FEMA-mapped high-risk flood zone.

Getting Around Princeton

According to Walk Score, the area around Princeton's assisted properties scores 95 (Walker's Paradise) and a Bike Score of 90, reflecting excellent walkability and bikeability for daily errands and commutes. Note that scores reflect the area around the assisted properties specifically.

Schools

According to the NCES Common Core of Data, 7 public schools across 2 districts serve Princeton, including 5 elementary, 1 middle, and 1 high school. Ratings and resources vary by school and district, so renters should check the assigned schools for their specific address.

Cost of Living in Princeton, NJ

Princeton is one of New Jersey's higher-cost communities. The median household income is $192,079 per year, according to Census ACS 5-Year data, while the median market rent is $2,636 per month -- well above what most income-qualified renters can afford without assistance.

The 8 HUD-assisted and income-based properties in Princeton, totaling 526 units, provide an important foothold for renters who need rents tied to income rather than the open market.

• Median household income: $192,079/year (Census ACS 5-Year)
• Median market rent: $2,636/month (Census ACS 5-Year)
• Renters: 45% of occupied households (Census ACS 5-Year)

Income-based housing in Princeton can significantly reduce monthly housing costs for eligible renters, since rents at assisted properties are generally set as a percentage of a household's income rather than at market rates.

Flood and Environmental Exposure

All 8 assisted properties in Princeton have been mapped for flood risk. None fall within a high-risk flood zone, which is a reassuring finding for renters concerned about flood exposure.